The U.S. Library of Congress is the largest library in the world and serves as the research arm of the U.S. Congress.1 Libraries have become an increasing target for ransomware attacks and several libraries have been impacted by cyber attacks in the last few years, including incidents in Pennsylvania, Ohio, and Massachusetts.2,3,4
This order is a part of the SEWP V program and aligns with Plurilock's stated goal of expanding within the government vertical. All contracts and orders announced by Plurilock and its subsidiaries since January 1, 2022, including the latest orders, represent a combined total of roughly US$5.28 million in sales.
Per the terms of the purchase order, Aurora will provide the U.S. Library of Congress with software license renewal and maintenance support services.
Aurora Share Purchase Agreement Earnout
In accordance with the Share Purchase Agreement dated March 26, 2021 among the Company, Plurilock Security Corp. and Aurora Systems Consulting, Inc., the performance-based earnout has been achieved and the Company has issued 1,154,676 common shares of the Company at $0.325 per share to the vendor in satisfaction of the earnout payment of US$300,000.
Issuance of Second Installment Payment Shares under Services Agreement with AGORA
About SEWP
The SEWP V program, launched by NASA in 2015, is the leading information technology (IT) contract vehicle, with government agencies spending $7.9 billion in fiscal 2020.5 Bloomberg Government estimated that agencies utilized SEWP V for $8.8 billion in contracted spending in fiscal 2021.6 The contract vehicle provides Plurilock with the opportunity to access downstream customers in the government sector.
About Plurilock
For more information, visit https://www.plurilock.com or contact:
Ian L. Paterson
Chief Executive Officer
[email protected]
416.800.1566
Roland Sartorius
Chief Financial Officer
[email protected]
Prit Singh
Investor Relations
[email protected]
905.510.7636
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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